Prime Digital Academy is a growing technology and coding academy that needed to relocate from Bloomington to Minneapolis CBD to take advantage of vibrancy, amenities, and branding exposures.

Prime Digital Academy hired Cushman & Wakefield to assist them in relocating to a new space that promoted the company’s brand, talent demographic, and strategic partnerships.

Solutions

  • Identify Prime Digital Academy’s vision for a future headquarters, including proximity to strategic partnerships with co-working and technology firms in the metro.
  • Use GIS mapping software to cross and compare the true mean center of Prime’s customers.
  • Manage an extensive competitive bid process between five landlords to secure the most leverage and the best deal terms for a limited budget.
  • Develop go-to-market budget and total project costs for Prime Digital Academy’s financial partners to underwrite investments in space and workforce.

Results

  • Prime Digital Academy secured a full floor in the historic Minneapolis Grain Exchange building, just one block from the new U.S. Bank Stadium and the Commons Park.
  • In addition to the lease, we negotiated a license right for Prime Digital Academy to occupy an internal balcony that overlooked the historic Grain Exchange trading floor, which is currently occupied by the flagship COCO co-working environment.
  • The selected space is purposefully adjacent to strategic partnerships like COCO and the Minnesota High Tech Association.
  • The deal included 12 months of gross free rent in a historic and underperforming building.
  • An above market tenant improvement allowance was included to realize space functionality, design, and vision for Prime.
  • We also shortlisted properties for sale or for joint venture in first ring suburbs for Prime to anchor and brand.